Mike,
The reason for TQ management was to lessen the stress on the drivetrain, but more so to the weak 4L60e. TQ management is more evident in the LS1 motor based trucks. In my opinion a corrctly programmed PCM seems like the way to go. I have a SPE programmer on mine(Now FAST programmer) and im not totally satisfied with it. Ive been told the PCM was the way to go.
Ive seen you post over at FSC. Check out the TQ management post in the performance section. A member took some screen shots of the stock programming at WOT. It will show you what crazy stuff GM put in there.